Don’t Waste Time On Competitors!

DON EBUBEOGU

In business, when you do not let what competitors do bother you anymore; the game changes, positively.

I used to collect samples of products made by competitors and keep them on my shelf. One day, during my routine stare at the products I found out that none of our products were displayed on that shelf.

It was a rude shock to find out that I have devoted more time thinking about competition than thinking about our products.

Successful entrepreneurs are aware of the competition in a healthy way but they don’t waste time thinking about them. The moment you let go of worrying about competition and focus all your attention and energy on your product and service, you begin to grow your brand equity.

All those years I spent thinking about competitors made me understand that you cannot control competition, because they will always be different from you.

Every second you waste on your competitors could be spent to improve your product and service. And more importantly, your customers don’t care about your competitors; they care about your offering.

I have stopped worrying about competition and what competitors are doing.

My only competition is myself and to do better than I did yesterday.

In the words of Henry Ford, “The competitor to be feared is the one who never bothers about you at all, but goes on making his own business better all the time.”

– Don Ebubeogu is of the Tiger Beverages Group.